Iraqi Dinar News - Iraq News

Iraq News

Appreciation of Iraqi dinar called 'commendable' at IMF meeting

Appreciation of Iraqi dinar called 'commendable' at IMF meeting

March 30, 2007

The Executive Board of the International Monetary Fund (IMF) has completed the third and fourth reviews of Iraq's performance under its economic program supported by a Stand-By Arrangement. The IMF arrangement is being treated as precautionary by the Iraqi authorities, and no purchase is planned.

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New policy at Central Bank auction to sell more dollars

New policy at Central Bank auction to sell more dollars

March 30, 2007

Iraqi Central Bank initiated a new policy to sell more dollars and obtain dinars to cover items from the national budget, which is in Iraqi dinars for the first time since 2003, sending demand for dollar higher in Thursday's auction.

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IMF is not putting pressure on monetary policy

IMF is not putting pressure on monetary policy

March 29, 2007

Iraqi Central Bank governor, Sinan Shabibi, denied that the strict monetary policy, pursued by the Central Bank, being a result of pressure by the International Monetary Fund; he pointed out that the policy falls within the framework of the Central’s monetary reforms currently taking place in Iraq.

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Iraq Investments : Sebastian River Holding's, Inc., purchases 100 million Iraqi dinars; Company says

Iraq Investments : Sebastian River Holding's, Inc., purchases 100 million Iraqi dinars; Company says chance of dinar equaling dollar 'feasible'

March 28 2007

Sebastian River Holding's, Inc., today announced that the company has joined the United States and has invested in the Iraqi economy by purchasing 100,000,000 Iraqi dinars.

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UAE 'closer to revaluation'

UAE 'closer to revaluation' March 27, 2007 Dubai: The chances of the UAE revaluing the dirham this year may have risen. Standard Chartered Bank has raised its estimation of the probability of such an event to 40 per cent. It had previously suggested that the chances were low, perhaps in the region of 20 per cent.
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Baghdad stock exchange welcoming foreign investors

Baghdad stock exchange welcoming foreign investors

March 26, 2007

50 mediators in the Iraqi market for securities are examining the measures and instructions for activating the resolution, which allows non-Iraqis to circulate shares and bonds on the Stock Exchange of Iraq, and the requirements of starting the work by it, amid investors’ expectations of significant shifts; the most important of which are the positive high returns in relation to investment in general, and the raise of the level of stock prices and transactions volume on the stock market in particular.

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Iraqi Stock Exchange joining International Federation of Bourses

Iraqi Stock Exchange joining International Federation of Bourses

March 26, 2007

It is expected that Iraqi market for securities will witness important developments during the coming period, when it is hoped that it will join the International Federation of Bourses, as well as completing rules and procedures of circulation for the non-Iraqi, Arabs and foreigners, after the government agreed to that, and authorized the concerned bodies to prepare instructions in this regard. Also, the market continued to take measures to complete the project of electronic transaction and central depository, since it means achieving connectivity with Arab and international stock exchanges and guarantees the continuity of mutual investment and stock circulation.

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Iraq inflation battle 'top priority'

Iraq inflation battle 'top priority'

March 25, 2007

Iraq

promised to make tackling high inflation one of its priorities and said it will gradually keep raising domestic prices of fuel products to curb a thriving black market, according to a letter by Iraq's top finance officials to the International Monetary Fund (IMF)."Inflation has risen to an unacceptable level," the letter, signed by

Iraq

's central banker Sinan Al Shabibi and Finance Minister Bayan Jabor, told the IMF.

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Ministry to build two 10,000 barrel refineries

Ministry to build two 10,000 barrel refineries

March 24, 2007

Plans are in place to construct two 10,000 barrel refineries in northern Iraq.

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An Iraqi-American "partnership" to move the Iraqi economy

An Iraqi-American "partnership" to move the Iraqi economy

March 23, 2007

Jabr added in a press conference in Baghdad attended by the Iraqi Minister of Industry, Fawzi Hariri, and Deputy of the Under Secretary of the American Minister of Defense for economic transfers, Brinkli Powell, that "expanding and increasing the production capacity of these plants will develop the Iraqi economy and contribute in solving the crisis of unemployment in Iraq".

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Iraq’s Kurds to go it alone on oil deals

Iraq’s Kurds to go it alone on oil deals

March 22 2007

The Kurdistan regional government plans to triple the number of foreign oil companies operating in its region by the end of the year regardless of whether Iraq’s parliament passes a politically sensitive hydrocarbon law.

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