Iraqi News No budget = Exchange Rate mechanism?

[EddieX]

Conscious / MP Sabah al-Saadi: Noin the absence of approving the budget, the government would resort to exchange rate mechanism in the next week

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واع/ بغداد/ع.خ Conscious / Baghdad / p. X

5/1/2010 5/1/2010 6:50pm 6:50 pm

The Attorney-Sabah al-Saadi on the mass of virtue that not approving the budget means to give the opportunity for the Government to find the exchange rate mechanism, especially in the twelfth of this month for the maintenance work of the ministries and government institutions.

Saadi said in a telephone conversation with (the Iraqi Media News Agency / conscious) that "the linkage between the law of the Federal budget for 2010 and the Electoral Code of Conduct is not just for the fact that the financial budget Aims to support the wheel of the state of Iraq in building, construction, investment, either the Electoral Code of Conduct which regulates the work of actors in the political, governmental mechanisms for the disbursement of state funds in order not to allow them to exploit the money for their campaigns. "

He added that "the Iraqi parliament work of great importance, namely the ratification of the federal budget for the continuity of work in government ministries, as we reflect on the end of the legislative term of life of the parliament completed the budget law and to ratify it." As well as "completion of the electoral code of conduct because this law will determine the exchange rate mechanism, political entities so that there is not financial corruption by the state to finance election campaigns and also to stop " Power of some parties at the expense of some of the entities participating in the upcoming parliamentary elections "

م Adding "in the absence of ratification of the budget during these days Vstljo government to exchange rate mechanism, legal وذلك اعتبارا من يوم The effect on 12 /1 1-12 بهدف استمرار اداء الوزارات والمؤسسات الحكومية الانتاجية والخدمية". With a view to continuing the performance of ministries and government institutions and service productivity. "

[ALAN EDWARDS]

Nice post mate

[Pam&Brian]

Unfortunately this is a poor translation and the true meaning of what was said is lost. One could read almost anything into this report because of the way its been translated.... I'd like to interpret it that we will see a change in the exchange rate in the next week, before the 12th January.

[EddieX]

It is a bad translation, I'm trying to see if I can get a better one up.

[Mojo]

Unfortunately this is a poor translation and the true meaning of what was said is lost. One could read almost anything into this report because of the way its been translated.... I'd like to interpret it that we will see a change in the exchange rate in the next week, before the 12th January.

Thats what it looks like to me

[kaperoni]

Where is the link?

[EddieX]

http://www.al-iraqnews.net/

Under Political news

[kaperoni]

This is poor translation...read it is talking about election costs.

dont think this is in anyway correct....lets break it down...

"....electoral code of conduct because this law will determine the exchange rate mechanism"

what is the electoral code of conduct?...

"Electoral Code of Conduct which regulates the work of actors in the political, governmental mechanisms for the disbursement of state funds in order not to allow them to exploit the money for their campaigns. "

This to me states this is relating to the upcoming elections, the budget and the amount of money that can be spent.

Nothing to do with Dinar revaluation...just my opinion.

[fullpint]

http://translate.google.com/translate?hl=en&sl=ar&u=http://alfdhela.com/showthread.php%3Ft%3D14516&ei=xs9DS57UJYresgPM5_G-BA&sa=X&oi=translate&ct=result&resnum=1&ved=0CAgQ7gEwAA&prev=/search%3Fq%3D%25D8%25A8%25D9%2587%25D8%25AF%25D9%2581%2B%25D8%25A7%25D8%25B3%25D8%25AA%25D9%2585%25D8%25B1%25D8%25A7%25D8%25B1%2B%25D8%25A7%25D8%25AF%25D8%25A7%25D8%25A1%2B%25D8%25A7%25D9%2584%25D9%2588%25D8%25B2%25D8%25A7%25D8%25B1%25D8%25A7%25D8%25AA%2B%25D9%2588%25D8%25A7%25D9%2584%25D9%2585%25D8%25A4%25D8%25B3%25D8%25B3%25D8%25A7%25D8%25AA%2B%25D8%25A7%25D9%2584%25D8%25AD%25D9%2583%25D9%2588%25D9%2585%25D9%258A%25D8%25A9%2B%25D8%25A7%25D9%2584%25D8%25A7%25D9%2586%25D8%25AA%25D8%25A7%25D8%25AC%25D9%258A%25D8%25A9%2B%25D9%2588%25D8%25A7%25D9%2584%25D8%25AE%25D8%25AF%25D9%2585%25D9%258A%25D8%25A9%26hl%3Den%26client%3Dsafari%26rls%3Den

[fullpint]

Verrrry interesting read EddieX, good find. Exchange Rate Mechanism is an interesting phrase. I hope it means what I think it means. Ha!

[kaperoni]

here is the UN definition of the electoral conduct...This is poor translation unfortunately.

http://www.uniraq.org/documents/ElectoralMaterial/180509/Fact%20sheet%20on%20codes%20of%20conduct_%20E.pdf

[Torey0112]

Eddies.. Could you give definition of what'exchange rate mechanism' means in your post?? I would like for it to mean an rv on the way.. But not wanting to get excited ... Yet!! Thanks

[EddieX]

I'm not jumping the gun here because this is not a good translation.

You would think it's about the exchange rate but not 100% sure.

[juan martinez]

We are closer today than yesterday. Keep the faith.

[keylime]

Exchange Rate Mechanism

[keylime]

File Format: PDF/Adobe Acrobat - Quick View

Exchange Rate Mechanisms. Fixed and Flexible ER. ER mechanisms. • There are two types of ER mechanisms: – Floating ER – no intervention by governments ...

homepages.wmich.edu/~mryan/E380/Notes/ForeignExchange.pdf - Similar -

[kaperoni]

Some are turning this around and I think Frank is one of them...Implying that this is about the budget (which it is) and that is has not passed because of the upcoming exchange rate change. Therefore, delay then RV, then pass the budget. I dont think so...I think it is just a translation issue and it only pertains to the budget, the elections and the financing of the elections.

I say this because if we were to say...Frank is correct, then that would mean the members of the parlament were aware of the RV. And if that was the case, it would be known throughout the world. At the very least, we here would have more knowledge of it that we do. So I stick to it...Error in translation sorry.

[Dfrog]

Kaperoni dude you are such a buzz kill. Keep your negativity to yourself.

It is pretty well explained what the exchange rate mechanism is above. I am not blind to all the facts, but you seem to want the opposite of everyone on here.

Being determined to make everyone else think they are wrong just to make yourself right is lame.