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Economic Data Update on CBI site

fnbplanet

By fnbplanet,
in Iraq & Dinar Related News

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fnbplanet Apprentice

fnbplanet

Posted
Posted

We had another update to the Economic Data posted on the front CBI website page:

ECONOMIC DATA Feb. 16, 2012

Interest rates

CBI policy rate (valid from 1 Apr 2010) 6%

IQD 7 day deposit 4%

Primary credit facility 8%

Economic indicators

Core inflation (YoY): Jan 2012 6.07%

Inflation (YoY): Jan 2012 5.36%

M2 growth (YoY): Nov 2011 22.4%

For 2011F:

GDP - real growth rate 9.6%

Budget deficit/GDP 13.7%

Current account deficit/GDP 0.9%

Net foreign reserves $60B

ECONOMIC DATA 3/5/2012

Interest rates

CBI policy rate (valid from 1 Apr 2010) 6%

IQD 7 day deposit 4%

Primary credit facility 8%

Economic indicators

Core inflation (YoY): Jan 2012 6.07%

Inflation (YoY): Jan 2012 5.36%

M2 growth (YoY): Dec 2012 19.2%

For 2011F:

GDP - real growth rate 9.6%

Budget deficit/GDP 13.7%

Current account deficit/GDP 0.9%

Net foreign reserves $60B

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truthful1 Newbie

truthful1

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Its growing....that's not necessarily what we want is it?

Its good for iraq. more profits, more domestic and foreign deposits. bad for us, because the cbi has to cover more. theres not any articles where people are complaining of a shortage of dinar, so its likely theres more dinar out there, than anyones willing to acknowledge. but we dont know for sure. it would be negligent for the cbi to be bringing false numbers though. investors would be scared away if they were to find out the cbi has been giving totally false numbers. so in short, its not good.

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zigmeister Newbie

zigmeister

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Its good for iraq. more profits, more domestic and foreign deposits. bad for us, because the cbi has to cover more. theres not any articles where people are complaining of a shortage of dinar, so its likely theres more dinar out there, than anyones willing to acknowledge. but we dont know for sure. it would be negligent for the cbi to be bringing false numbers though. investors would be scared away if they were to find out the cbi has been giving totally false numbers. so in short, its not good.

Actually why would the people complain about the lack of the dinar when they have the dollar?

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leesburg Newbie

leesburg

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Posted

i see they are maintaining the 60 billion foriegn reserves..which is good to support a revaluation if needed .. pending on how much is turned in for exchange after rv .. most likely only dinars out of country now will be exchanged ..... i wonder if they have an idea of how much they have outside iraqi borders right now .. if its 10% ....15% ..who knows ?

all that is necessary to have in reserves is the amount that would be turned in for exchange after rv ..

ill bet its less than 5% ..out of country..if its more we will see a small rv .. unless they have bilateral agreements set up with foriegn govts to collect these dinars and hold them in their reserves for a time ....to be used to purchase oil ..everyone says oh no oil isonly sold in dollars ... but ill bet iraq would take dinars for their oil ...

what if its all set up that the dinar will be the new oil trading currency and no one knows this yet .. but it will be announced at the arab summit along with the new tate for the new dinar ... as well as iraq being released from chapter 7 ...

nah ..im dreaming .. like a guru

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truthful1 Newbie

truthful1

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as much as the lop crowd will say this is awful news for them rv'ing, in the scheme of the rv this doesn't really matter. there plan is done, which has been stated by shabbs many many times.

Your right, the plan is done. but if the plan is not implemented within years when it shouldve been, that could throw the plan out the window. shabbs says hes been ready, yet here we sit waiting on parliament and the goi for approval. timing isnt something shabbs has control over, the parliament and goi have the say. so who knows how long this can go?

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fnbplanet Apprentice

fnbplanet

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I read that as going down, from 22.4% to 19.2%, which I thought was good. Maybe I'm wrong.

Definition of 'M2'

A category within the money supply that includes M1 in addition to all time-related deposits, savings deposits, and non-institutional money-market funds.

Investopedia explains 'M2'

M2 is a broader classification of money than M1. Economists use M2 when looking to quantify the amount of money in circulation and trying to explain different economic monetary conditions.

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zigmeister Newbie

zigmeister

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Your right, the plan is done. but if the plan is not implemented within years when it shouldve been, that could throw the plan out the window. shabbs says hes been ready, yet here we sit waiting on parliament and the goi for approval. timing isnt something shabbs has control over, the parliament and goi have the say. so who knows how long this can go?

I think Shabibi can do this at any time. No one seems to know if he needs parliament approval or not. I have read he does and I have read he does not. But I do believe for this to be successful everyone needs to on board. What Shabibi needs a stable Iraq, and he needs the banks to be ready to go electronic and on line when it does happen. I am still not clear as to if they are, the articles change like the weather.

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truthful1 Newbie

truthful1

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I think Shabibi can do this at any time. No one seems to know if he needs parliament approval or not. I have read he does and I have read he does not. But I do believe for this to be successful everyone needs to on board. What Shabibi needs a stable Iraq, and he needs the banks to be ready to go electronic and on line when it does happen. I am still not clear as to if they are, the articles change like the weather.

I think shabbibi can do it, yet hes passed the buck to parliament. So imo shabbibis waiting on parliament

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JayP Newbie

JayP

Posted
Posted (edited)

It is Year over Year growth..it is slower in December than November but still a significant growth of 19%.

Another thing to note, is that the Key Financial indicators show a growth in the currency outside the banks once more. While some are telling people that they have been removing the large notes from circulation for a year and a half now, as of Jan 2012, it shows a total supply of 28.035 Trillion in currency outside of the banks, up from 26.8 Trillion in Nov. 2011. This is not a good thing for our investment, but I am hoping that someone can show that this is not true, and the claims that they have actually been reducing that supply is in fact the truth. It did go down slightly from 28.264 Trillion in December 2011 though...

Edited by JayP
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uncirculd Newbie

uncirculd

Posted
Posted

Shows good numbers. They can definitely do this anytime. Shabibi has said his currency would raise value in time. Well it looks like he has succeeded in doing that. Growth is great. And they have not even tapped into all their resources. Once this country gets going, it will blossom. And finally they can have the Iraq Dream.

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