Despite the continuous rise of the value of the dinar against the dollar and other foreign currencies, the price of goods and services in the local markets continue to rise

[arh777]

Al-Alwani: the Iraqi economy is to worse
2008-12-29 13:09:34 ا



بغ ) .. BAGHDAD (EYBENS) .. قاEconomic Commission said the decision of the House of Representatives, Ahmed al-Alwani, despite the continuous rise of the value of the dinar against the dollar and other foreign currencies, the price of goods and services in the local markets continue to rise have become a threat to the confiscation of most of the citizens of Mathakq improvement in their income after 2003.
. He singled out al-Alwani told the Independent Press Agency (EYBENS) said Monday that the increase in the price included all walks of life, whether it be for food, Awalucod, Awanakl, leading to a real estate sale and rent, which calls for the need to pause to do a real government .
". One of the most important reasons that led to this rise is dumping in the cash market, without censorship or the follow-up of the concerned governmental authorities, adding that "pressure the Paris Club and the International Monetary Fund, one of the reasons for the high prices."
. He expressed the view that al-Alwani, the economic situation of Iraq is the worst.
. The economic Khbaybr in the Central Bank of Iraq said earlier that the reasons for the high prices on the Iraqi market is the lack of clear economic policy and the instability of the security and political situation in Iraq will contribute to raising the prices of goods imported and those manufactured locally. (النهاية)/ف/.. (End) / P / ..


http://74.125.19.99/translate_c?hl=e...1smQcpf47hUc5w

[WCKDinar]

"pressure the Paris Club and the International Monetary Fund, one of the reasons for the high prices."

IMF pressure to maintain a "programed rate"?

[ObaDinar]

The main reasons why the price of goods and services are high is because of the extremely low value of Iraqis currency. 1175 to $1 is next to nothing. What can you buy with that ? Revalue to 3.xx, The Iraqi people will now live like they use to in the 80s or like the people in the neighboring state in Kuwait. Even without water, the Kuwaitis are happy with their currency.

[Money4Nothin']

I thought the IMF wanted them to move away from the 'Programed Rate' and increase the value. I'm sure I read this a few weeks ago. Wouldn't an increase in the value of their currency decrease the amount they paid on imported goods?

[PR Dinar Man]

I remember the report from the IMF, it was in Oct. I think the IMF said to move away from the prgram rate but to increase the pace of appreciaton. Which they have not done.

I thought the IMF wanted them to move away from the 'Programed Rate' and increase the value. I'm sure I read this a few weeks ago. Wouldn't an increase in the value of their currency decrease the amount they paid on imported goods?

[ObaDinar]

I remember the report from the IMF, it was in Oct. I think the IMF said to move away from the prgram rate but to increase the pace of appreciaton. Which they have not done.

Agreed with you.May be they did not act on it becuase all the fundumentals were just not there then. Every conceivable thing is now in place. Lets wait and see what happens now.

[PR Dinar Man]

Correct, everything is in place. Now with the elections around the corner somethings gotta give. I remember they tried to delay the elections again and it was not approved. Hopefully this will trigger the RV prior to the elections.

Agreed with you.May be they did not act on it becuase all the fundumentals were just not there then. Every conceivable thing is now in place. Lets wait and see what happens now.

[NewTexasgold]

I thought the IMF wanted them to move away from the 'Programed Rate' and increase the value. I'm sure I read this a few weeks ago. Wouldn't an increase in the value of their currency decrease the amount they paid on imported goods?

It would totally decrease the amounts Iraq pays for all their imported goods, it would increase Iraq's puchasing power 100 fold.....I think with the drop in the price of oil, the Iraqi government is rushing to pass many of the laws we have seen in articles lately....JMHO....

[alemonnation]

. The economic Khbaybr in the Central Bank of Iraq said earlier that the reasons for the high prices on the Iraqi market is the lack of clear economic policy and the instability of the security and political situation in Iraq will contribute to raising the prices of goods imported and those manufactured locally. (النهاية)/ف/.. (End) / P / ..

People, there you have it. the CBI has told us why they are holding back, and now we are seeing this push to get all this little crap straight, the oil law, etc....

[4aprofit]

I simply feel that the money has been stabilized at a rate that they are comfortable with for the rv to take place....without too much speculation taking precedence over the matter...as that would cause a panic...and/or widespread hoarding of the d i n a r ! ! ! Could actually be dangerous...and not only in iraq....if you get my drift ? ? ?

[KnightsCharger]

Al-Alwani: the Iraqi economy is to worse
2008-12-29 13:09:34 ا



بغ ) .. BAGHDAD (EYBENS) .. قاEconomic Commission said the decision of the House of Representatives, Ahmed al-Alwani, despite the continuous rise of the value of the dinar against the dollar and other foreign currencies, the price of goods and services in the local markets continue to rise have become a threat to the confiscation of most of the citizens of Mathakq improvement in their income after 2003.
. He singled out al-Alwani told the Independent Press Agency (EYBENS) said Monday that the increase in the price included all walks of life, whether it be for food, Awalucod, Awanakl, leading to a real estate sale and rent, which calls for the need to pause to do a real government .
". One of the most important reasons that led to this rise is dumping in the cash market, without censorship or the follow-up of the concerned governmental authorities, adding that "pressure the Paris Club and the International Monetary Fund, one of the reasons for the high prices."
. He expressed the view that al-Alwani, the economic situation of Iraq is the worst.
. The economic Khbaybr in the Central Bank of Iraq said earlier that the reasons for the high prices on the Iraqi market is the lack of clear economic policy and the instability of the security and political situation in Iraq will contribute to raising the prices of goods imported and those manufactured locally. (النهاية)/ف/.. (End) / P / ..


http://74.125.19.99/translate_c?hl=e...1smQcpf47hUc5w

Is it me, or this there a tone of desperation in this piece? Iraq is definetly feeling the effects of global inflation. Although it blames the Paris Club and the IMF, for my part that is very positive for the currency.

The MoF "Jabr" I believe would love to have access too, and purchasing power of, the USD. Reserves both at the CBI and the IAMB, But Western powers, the IMF and the CBI are united in increasing the value of the NID and prevent an Iranian economic model that would ensue if the MoF was able to spend dollars rather that NID.

The GoI must complete the benchmark legislation (HCL) and follow through with elections and get the ISX globally accessable. The SOFA accomplished strategic goals at least enough to satisfy Washington. However this GoI is proven that it has yet to become self governing institution for all the citizens of Iraq. And that is why the security council extended protection of USD reserves at the IAMB and FRBNY.

Until they begin to act like they want to be recognized as an emerging market with western principals, they continue to act like unruly children, they get no lolipop.

100+ billion USD reserves at the CBI would be more than enough to absorb any shock and allow for a more powerfull NID once it enters the open market.

My OPINION!

KC

[ObaDinar]

Is it me, or this there a tone of desperation in this piece? Iraq is definetly feeling the effects of global inflation. Although it blames the Paris Club and the IMF, for my part that is very positive for the currency.

The MoF "Jabr" I believe would love to have access too, and purchasing power of, the USD. Reserves both at the CBI and the IAMB, But Western powers, the IMF and the CBI are united in increasing the value of the NID and prevent an Iranian economic model that would ensue if the MoF was able to spend dollars rather that NID.

The GoI must complete the benchmark legislation (HCL) and follow through with elections and get the ISX globally accessable. The SOFA accomplished strategic goals at least enough to satisfy Washington. However this GoI is proven that it has yet to become self governing institution for all the citizens of Iraq. And that is why the security council extended protection of USD reserves at the IAMB and FRBNY.

Until they begin to act like they want to be recognized as an emerging market with western principals, they continue to act like unruly children, they get no lolipop.

100+ billion USD reserves at the CBI would be more than enough to absorb any shock and allow for a more powerfull NID once it enters the open market.

My OPINION!

KC

Beautifully stated, bro. Our minds meets here.

[Howler]

well, lets see if things improve after their elections. I hope the Iraqis are as sick of their in action as I am.

[RAIDER1]

Why does it feel like there are so many of these articals coming out of every crack discussing the IMF, Monetary Policy, and Dinars........

Is it me or are there just a bullrush on these artical right now?

[alexanderiusmen]

Why does it feel like there are so many of these articals coming out of every crack discussing the IMF, Monetary Policy, and Dinars........

Is it me or are there just a bullrush on these artical right now?

You are right!
I have see it for a long time now. For about a month .After the SOFA was signed.