Dinar News CBI has made decision

[crewdog]

Central Bank has in fact made a decision on the matter, but its implementation needs

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["Dialogue" feature: Interview with Iraqi Finance Minister Baqir Jabr al-Zubaydi, conducted face-to-face by Ibrahim Amir, on the 2010 budget and the 2009 supplementary budget; place not given - live or recorded.]

Dubai Al-Sharqiyah Television in Arabic at 1414 gmt on 16 October 2009 carries in its "Dialogue" feature a 40-minute interview with Iraqi Finance Minister Baqir Jabr al-Zubaydi, conducted face-to-face by Ibrahim Amir. The interview's venue is not given, but Al-Zubaydi says he will be attending a meeting at the finance ministry in Baghdad at 1300 on the same day.

Asked about revenues, Al-Zubaydi says there is development in revenues from customs, taxes, and the sale or lease of State land.

Asked about the exchange rate of the Iraqi Dinar, Al-Zubaydi says the Central Bank is responsible for monetary policy. He says when he first came to the finance ministry he proposed to the governor of the Central Bank to increase the Iraqi dinar rate against the US dollar, and during a recent visit to Turkey he told the governor who was with him that Turkey has devalued its currency against the dollar from 4 million Turkish pounds (TL) to the dollar, to approximately TL 1.5 pounds to the dollar. He says the Central Bank has in fact made a decision on the matter, but its implementation needs time.

Source: Al-Sharqiyah TV, Dubai, in Arabic 1414 gmt 16 Oct 09

BBC Mon ME1 MEPol oy

http://research.scottrade.com/public/markets/news/news.asp?docKey=100-298n3117-1&section=headlines

[Adam Montana]

He says the Central Bank has in fact made a decision on the matter, but its implementation needs time.

Things that make you go HMMMMMMMM.......

[VICTORIALAWIZZA]

Central Bank has in fact made a decision on the matter, but its implementation needs

--------------------------------------------------------------------------------

["Dialogue" feature: Interview with Iraqi Finance Minister Baqir Jabr al-Zubaydi, conducted face-to-face by Ibrahim Amir, on the 2010 budget and the 2009 supplementary budget; place not given - live or recorded.]

Dubai Al-Sharqiyah Television in Arabic at 1414 gmt on 16 October 2009 carries in its "Dialogue" feature a 40-minute interview with Iraqi Finance Minister Baqir Jabr al-Zubaydi, conducted face-to-face by Ibrahim Amir. The interview's venue is not given, but Al-Zubaydi says he will be attending a meeting at the finance ministry in Baghdad at 1300 on the same day.

Asked about revenues, Al-Zubaydi says there is development in revenues from customs, taxes, and the sale or lease of State land.

Asked about the exchange rate of the Iraqi Dinar, Al-Zubaydi says the Central Bank is responsible for monetary policy. He says when he first came to the finance ministry he proposed to the governor of the Central Bank to increase the Iraqi dinar rate against the US dollar, and during a recent visit to Turkey he told the governor who was with him that Turkey has devalued its currency against the dollar from 4 million Turkish pounds (TL) to the dollar, to approximately TL 1.5 pounds to the dollar. He says the Central Bank has in fact made a decision on the matter, but its implementation needs time.

Source: Al-Sharqiyah TV, Dubai, in Arabic 1414 gmt 16 Oct 09

BBC Mon ME1 MEPol oy

http://research.scottrade.com/public/markets/news/news.asp?docKey=100-298n3117-1&section=headlines

THANKS, for the info

[Rebekahannalee]

Central Bank has in fact made a decision on the matter, but its implementation needs

--------------------------------------------------------------------------------

["Dialogue" feature: Interview with Iraqi Finance Minister Baqir Jabr al-Zubaydi, conducted face-to-face by Ibrahim Amir, on the 2010 budget and the 2009 supplementary budget; place not given - live or recorded.]

Dubai Al-Sharqiyah Television in Arabic at 1414 gmt on 16 October 2009 carries in its "Dialogue" feature a 40-minute interview with Iraqi Finance Minister Baqir Jabr al-Zubaydi, conducted face-to-face by Ibrahim Amir. The interview's venue is not given, but Al-Zubaydi says he will be attending a meeting at the finance ministry in Baghdad at 1300 on the same day.

Asked about revenues, Al-Zubaydi says there is development in revenues from customs, taxes, and the sale or lease of State land.

Asked about the exchange rate of the Iraqi Dinar, Al-Zubaydi says the Central Bank is responsible for monetary policy. He says when he first came to the finance ministry he proposed to the governor of the Central Bank to increase the Iraqi dinar rate against the US dollar, and during a recent visit to Turkey he told the governor who was with him that Turkey has devalued its currency against the dollar from 4 million Turkish pounds (TL) to the dollar, to approximately TL 1.5 pounds to the dollar. He says the Central Bank has in fact made a decision on the matter, but its implementation needs time.

Source: Al-Sharqiyah TV, Dubai, in Arabic 1414 gmt 16 Oct 09

BBC Mon ME1 MEPol oy

http://research.scottrade.com/public/markets/news/news.asp?docKey=100-298n3117-1&section=headlines

THIS LOOKSlike good news! I hope!

[34dean]

"Implementation time" = 2 weeks before election

Iraqis rejoice as immediate wealth hits their lives for the first time and... maliki smells like roses and wins Presidential election in landslide.

[skelllley]

man i hope so!!!!!!!!!!!

[rabidrex]

"With regards to a RV we can not comment on this matter as the CBI has not issued any information, made a move or decision regarding this matter and remains a non official matter which all Iraqi Banks consider null and void as the CBI being the highest financial authority in Iraq has not issued a single comment regarding this matter which remains a market speculation which on a local level nobody has heard about."

This was what my friend received when he asked when the IQD might reval...from Warka Bank Executive.

[CaptainJack]

Well, we may not know the rate or date of when this will RV, it's encouraging news none-the-less.

I believe there are probably too many individuals, organizations and countries with a voice in the decision making of exactly when and how much to RV (probably one of the reasons it is taking this long). but as this article and hopefully more reach the mainstream media/population, maybe they'll get busy and get this accomplished.

[LOWESTCOSTWIRELESS]

Check out all the conversion sites, where did they get this new rate from? IMF supposedly suggested conversions, sure would be nice.

Success to all,

[lancer22]

Its not if there will be a reval but when. timing is everything now.

[beck84720]

I honestly don't know why there are so many nay sayers. Revalues happen a lot in history and have made people very wealthy because of "smart" investing. I agree, it is not "if", but when rather. I think soon.

Also, I intend to do the right thing and invest : ) I want to be a "smart" 29 year old : ) When this happens, I really

want to get a stock portfolio going.

[IslanderInDC]

"Asked about the deficit in the 2009 budget, Al-Zubaydi says it was around 17 trillion Iraqi Dinars as far as h e remembers, and the deficit in the 2010 budget is 15 billion dollars." that is the quote that called my attention. Notice the 2009 deficit amount stated in dinars, is rv included in that total? Then for 2010, reverts to dollars. That could be due to rv and a much lower amount if stated in dinars. Jmho...

[beck84720]

Interesting.

[Rawl]

i am already convinced that this is just a matter of time. My concern now because I am thinking forward, is how the banks would proposedly deal with the influx of those who want to cash in, and which banks are likely to absorb that volume of currency?

[Rawl]

I am from the Caribbean and I have been approaching the banks here to find out what are the prospects of such a transaction. Many laugh me to scorn. One even said that I should be quiet about it becuase I could be accused of being linked to some terrorist organization. I would really be looking forward to some response

[beck84720]

heheh unsure as to the question on where to cash in in your area.

I know here, BoA, Chase, Wells Fargo are the likely spots. : ) Have

any of them there??

[maynard]

"Asked about the deficit in the 2009 budget, Al-Zubaydi says it was around 17 trillion Iraqi Dinars as far as h e remembers, and the deficit in the 2010 budget is 15 billion dollars." that is the quote that called my attention. Notice the 2009 deficit amount stated in dinars, is rv included in that total? Then for 2010, reverts to dollars. That could be due to rv and a much lower amount if stated in dinars. Jmho...

17 Trillion IQD = roughly 15 Billion USD . The deficit for 2009 is the same as the deficit for 2010. Yes it is strange that they changed from dinars to dollars, but its all equal.

17000000000000 IQD (Iraq)=14 775 995 462.01 USD (United States)

[Rawl]

I dont have any of them here. The closest is Citibank and they only deal with customers who are making yearly turn over of 25 million dollars. I guess that I will have to be taking a trip to the US or Bhagdad lol

[Rawl]

beck what type of business are you into. may be you can come to the caribbean and establish a partnership to expand the intake from the dinar. How about that

[beck84720]

beck what type of business are you into. may be you can come to the caribbean and establish a partnership to expand the intake from the dinar. How about that

That would be fun. I am just a student in college right now, getting a bachelors of science in graphic arts. I do have management experience and sales experience. I'd love to live in such a beautiful place like the Caribbean. I am interested in your offer. : )

[IslanderInDC]

Yes, before I posted, I realized that they are both roughly the same amount at the current exchange rate. Easy math. Which brings me to my 2 previous points: 1) there is no reason to state both amounts in different currencies, 2) if we applied the rv the budget remains the same. With all the changes occuring to their economy, all the oil contracts, and possible release of chapter 7, the budget deficit would have to be considerably lower.

I used to be a high ranking budget officer for an agency of the federal gov. The budget for these 2 consecutive years don't add up. I don't need to look at the breakdown to make this statement. Either you include in the budget the tremendous new influx of cash and reduce the deficit considerably or, if not, then provide for inflation, new loan payments, infracstructure, and others and increase the deficit. One thing is for sure, the budget from one fiscal year to another DOES NOT remain the same. Compare the US President's budget requests for any agency/consecutive years and you will see that the significant fluctuation between consecutive fiscal years.

[bulldog]

I believe the revalue will be in the next iraq financial year,does anyone know

when that starts.

[Rawl]

Was it verified that the rv was the initiative of the imf