IRAQ SAID TO BE PLANNING A SECOND $1 BILLION BOND ISSUE

[yota691]

Mokhtassan call to resort to investment loans

 

 

1/15/2017 0:00  BAGHDAD / Imad emirate  cover the budget deficit through foreign loans One solution employed by States to compensate for their need of capital to finance economic processes, and this is what happened in Iraq when he defected to the external and internal loans to cover the obvious deficit in Moisnath especially in recent years, and sees Mokhtassan in this regard , the need to stay away as much as possible for foreign loans difficult conditions , with an emphasis on the importance of the distribution of spending in the general budget of the doors and activating the productive sectors.  Economic academic Dr Sattar al - Bayati, between in an interview for the "morning" that the loans of the International Monetary Fund, which sought refuge Iraq for more than once to cover the recurrent deficit in its budget, given the conditions leading to the control of government spending in the budget , or cancel and reduce government support for certain sectors or slides Social.  He said the two types of loans are internal, covered by the CBI and some government and private banks, foreign loans known kinds.  Iraq had signed with the International Monetary Fund "warm - measures agreement , " a program overseen by the Fund with the help of the World Bank to help member countries facing balance of payments deficits in the shadow of the financial crisis.  Through this program it is lending to countries on favorable terms, but according to structural adjustments in their economies allow them to bypass the crisis and being able to repay.  He said al - Bayati, said the IMF loans to experiment with a lot of Arab countries , including regional and foreign general or developing countries came out a lot of shenanigans.  He added that the alternative count on is the privatization through a national strategy should speed up its implementation and put it on the installations and government companies losing or managed self - funding and constitute a heavy burden on the state budget, because the owners consists of thousands of employees who represent disguised unemployment unproductive.  Al - Bayati said the feasibility of privatizing these projects economic manner thoughtful though be liquidated and sold to the private sector or integrated with the private sector or the entry of domestic and foreign investment in the rehabilitated again, pointing out that these steps achieved significant financial gains of the general budget and keep us from becoming problematic difficult external loans and get us out of the path of total dependence on oil and resource - known difficulties in the swing in  prices.  For his part , between economic academic , Dr. Abdul Karim Jaber Hnjar in Hadithel "morning" that Iraq is not subject to the project subsidies because the latter go to poor countries that are below the poverty line because he has the natural wealth of a huge oil - represented but suffers mismanagement that prompted him to external borrowing  unconditional.  However Hnjar, but there are ways soft against Iraq if it chose the principle of differentiation in the selection of its loans, and that the first of these distinctive loans positively are investment loans and then followed by the World Bank loans and some international organizations and bilateral loans between Iraq and a number of financial exuberance countries.  And between, while the International Monetary Fund, prepared by most economists as loans from foreign loans for countries that have got them or trying to get them, because the fund sets out a number of conditions to be implemented is to reform programs in those countries benefiting from the loan.  He pointed out that this measure makes the International Monetary Fund as a trusteeship on his economic programs in those countries.  Naturally, this conditionality puts forward some trouble that lead to the lifting of government support for some of the poorer segments that are already needed to support in addition to other conditions relating to a period of repayment and interest, and this loan from the International Monetary Fund is far from a recipe of soft loans or otherwise be  difficult .  The Hnjar, that the international lending policies were the cause of the increased indebtedness is paid to the development of other means of funding to cope with the legacy of lending policies, and this means debt swap by the arrow where allowed creditor banks sell debt in the trading market and gets creditor on the local currency and the price of an official exchange rate, or debt swap bonds where the financial debt swap bonds carrying amount of the original debt, but are subject to a deduction swaps or interest lower than the prices prevailing and be predetermined rates, and become the state religion has shifted to the securities can be re -   scheduled.

[Big_J]

[idplzr]

There is the mention of "official exchange rate" again😊

[Rockymtnhi]

On 1/5/2017 at 6:16 AM, Hikmah said:

Why do people and country's borrow money? Because they're broke. I got to say, it bothers me that we're pumping yet another billion dollars into Iraq. I can't see anything good about this at all.

You are so right.  Iraq is broke and needs assistance from other countries to help feed their people.  Certainly not the sign of a  country able to pay for an rv is it.

[Jaygo]

5 hours ago, Rockymtnhi said:

You are so right.  Iraq is broke and needs assistance from other countries to help feed their people.  Certainly not the sign of a  country able to pay for an rv is it.

Go home

[yota691]

US Embassy announces the completion of the sovereign loan guarantee for Iraq's billion-dollar

economy

 Since 01.19.2017 at 10:38 (Baghdad time)

Baghdad balances News

Announced that the US embassy in Baghdad, on Thursday, for the entry of the governments in Baghdad and Washington, the loan guarantee agreement with the US into force and the special one billion dollars.

The US Embassy said in a statement received / balances News / copy of it, that "the Republic of Iraq can borrow at an interest rate close to that the interest rate paid by the United States, while in turn, borrow."

She added, that "this bond proceeds will enable the Government of Iraq of food, water, housing and medical care for Iraqis to provide indigent, and will enable the Iraqis to take advantage of government services such as education, which Sahaihm the future is bright and promising."

She continued, "This is the launch of the loan guarantee today an indication of Iraq's continued progress towards achieving its objectives for economic reform on behalf of the Iraqi people."

She noted that "exchange of diplomatic notes is considered the final step in guaranteeing the loan between Iraq and the United States for Iraq to have access to global capital markets," .anthy 29 / D 24

[yota691]

, the US embassy announced a green light for the loan of one billion dollars for Iraq

 

     

 

 2 hours ago

 

 

Twilight News / announced that the US embassy in Baghdad, the entry of the governments in Baghdad and Washington , the loan guarantee agreement with the US into force and the special one billion dollars. 
Exchange of diplomatic notes is considered the final step in guaranteeing the loan between Iraq and the United States for Iraq to have access to global capital markets. 
According to a statement of the embassy it responded to Twilight News, that the Republic of Iraq can borrow at an interest rate close to that the interest rate paid by the United States , while in turn borrow. 
"This is the bond proceeds will enable the Government of Iraq of food, water, housing and medical care for Iraqis to provide indigent, and will enable the Iraqis to take advantage of government services such as education , which Sahaihm the future is bright and promising." 
She said the US embassy, said it is launching today the loan guarantee an indication of Iraq 's continued progress towards achieving its objectives for economic reform on behalf of the Iraqi people. "

[yota691]

Washington announces that ensure the entry into force of the billion-dollar loan agreement with Iraq

 

 

Economy News / Baghdad ...       The United States, on Thursday, for the entry into force to ensure one billion dollar loan agreement with Iraq, noting that it operates under a strategic framework agreement closely with the Iraqi government.   The US embassy in Baghdad in a statement that "the economy News" received a copy of it, "it was the day the exchange of diplomatic notes between the US and Iraq unannounced entry guarantee one billion dollar loan into force of the Agreement," asserting that "the exchange of notes is considered the final step on enabling Iraq Iraq's access to global capital markets. "     The embassy said that "Iraq will be able under that that borrow at an interest rate close to that the interest rate paid by the United States, while borrowing in turn," indicating that "the proceeds of this bond will enable the Government of Iraq of food, water, housing and medical care to Iraqis in need saving, will also enable the Iraqis to take advantage government services such as education, which Sahaihm the future is bright and promising. "   She embassy that "the launch of ensuring loan today is an indication of Iraq's continued progress towards achieving its objectives for economic reform," pointing out that "the embassy is working under the strategic framework agreement closely with the Iraqi government to ensure that the current economic challenges do not affect the existing campaign to defeat Daesh" .   Iraq has signed, on January 5 with America's sovereign loan guarantee one billion dollars, which will provide resources to enable the Iraqi government to fulfill their basic obligations to the Iraqi people.       mm
Views 49   Date Added 01/19/2017 - 12:07   Last updated 19/01/2017 - 12:30   No. Content 6500

[yota691]

US embassy: the completion of the sovereign loan guarantee for Iraq's billion-dollar

By sd sd -

January 19, 2017
 

 

 

Treasures Media / follow up

 

Announced that the US embassy in Baghdad, on Thursday, for the entry of the governments in Baghdad and Washington, the loan guarantee agreement with the US into force and the special one billion dollars.

The US Embassy said in a statement received, that "the Republic of Iraq can borrow at an interest rate close to that the interest rate paid by the United States, while in turn, borrow."

She added, that "this bond proceeds will enable the Government of Iraq of food, water, housing and medical care for Iraqis to provide indigent, and will enable the Iraqis to take advantage of government services such as education, which Sahaihm the future is bright and promising."

She noted that "this is the launch of the loan guarantee today an indication of Iraq's continued progress towards achieving its objectives for economic reform on behalf of the Iraqi people."

Pointing out that "exchange of diplomatic notes is considered the final step in guaranteeing the loan between Iraq and the United States for Iraq to have access to global capital markets."

[Synopsis]

The last statement from the last article, "Pointing out that "exchange of diplomatic notes is considered the final step in guaranteeing the loan between Iraq and the United States for Iraq to have access to global capital markets.""

Hmmmm............"Access To" and "Global Capital Markets" would seem to infer a high degree of "international". Maybe I'm reading things into this but it is hard to imagine that Iraq would engage in a significant amount of trade with a very low value currency. To be fully sovereign and out from under sanctions and restrictions, Iraq has to engage in international commerce with a valued and stable currency of it's own (IQD). Revaluing the currency in the very near future before engaging in significant international trade would avoid huge paybacks when the future revalue would occur if a significant amount of IQD is out of country via payment on trade goods. Iraq in a big way is going to need to import a lot of things to rebuild and get their economic infrastructure in place so IQD is going to have to flow out of the country to pay for these goods. Conversely, if the needed rebuilding does not occur, there could erupt a significant amount of sectarian conflict.

I guess we wait for the "exchange of diplomatic notes". I suspect the exchange is between the US and Iraq but could mean between Iraq and a variety of different countries including the US.

Lookin' Good whatever it is!

Just my opinion and 

Go Moola Nova!

[Big_J]

GM YOTA, SYNOPSIS AND DV. 

[tigergorzow]

Iraq issues dlrs one bn sovereign bond with US guarantee

"The U.S.A. Got Your Back Iraq Now Handle Your Business ASAP"

January 19 2017 12:43 PM

Iraqi Flag

 

Iraq successfully closed on its offering of a $1 billion sovereign bond issuance guaranteed by the United States of America.

This loan guarantee underscores the strong and enduring commitment of the United States to support the government of Iraq in this critical moment in the fight against Daesh.

As part of a comprehensive international assistance package – anchored by an International Monetary Fund-supported reform program – this guarantee provides Iraq access to low-cost financing essential to delivering critical services to all the people of Iraq, while laying the foundation for long-term stability and growth through economic and institutional reforms.

Today’s issuance of a $1 billion, five-year Iraqi sovereign bond on international markets is backed by a 100 percent guarantee by the U.S. government of the repayment of principal and interest, and was priced at a coupon rate of 2.149 percent.

http://www.thebaghdadpost.com/en/story/5181/Iraq-issues-dlrs-one-bn-sovereign-bond-with-US-guarantee#section_235

[tigergorzow]

7 hours ago, Synopsis said:

The last statement from the last article, "Pointing out that "exchange of diplomatic notes is considered the final step in guaranteeing the loan between Iraq and the United States for Iraq to have access to global capital markets.""

Hmmmm............"Access To" and "Global Capital Markets" would seem to infer a high degree of "international". Maybe I'm reading things into this but it is hard to imagine that Iraq would engage in a significant amount of trade with a very low value currency. To be fully sovereign and out from under sanctions and restrictions, Iraq has to engage in international commerce with a valued and stable currency of it's own (IQD). Revaluing the currency in the very near future before engaging in significant international trade would avoid huge paybacks when the future revalue would occur if a significant amount of IQD is out of country via payment on trade goods. Iraq in a big way is going to need to import a lot of things to rebuild and get their economic infrastructure in place so IQD is going to have to flow out of the country to pay for these goods. Conversely, if the needed rebuilding does not occur, there could erupt a significant amount of sectarian conflict.

I guess we wait for the "exchange of diplomatic notes". I suspect the exchange is between the US and Iraq but could mean between Iraq and a variety of different countries including the US.

Lookin' Good whatever it is!

Just my opinion and 

Go Moola Nova!

Syn, Excellent assessment my good friend things are definitely looking up for all of us!!

Always Keeping The Faith!!

GO RV!!

[Synopsis]

2 minutes ago, tigergorzow said:

Syn, Excellent assessment my good friend things are definitely looking up for all of us!!

Always Keeping The Faith!!

GO RV!!

Oh, Yeah, my Friend. Oh, Yeah!

Go Moola Nova!

[10 YEARS LATER]

 "exchange of diplomatic notes" MIGHT be . . . " Greetings from the Trump Administration to the Abadi Administration, Here's your Note !  Now what's all this holdup Bull Shiite with your Currency ?

" Pull your heads outta your butts and get that currency of yours out into the International Stage, Pronto ! IF'N y'all don't, OUR BOSS will be talking AT your boss ! Now let's be honest here, do you really want to hear  . . . . . YOU'RE FIRED ???? " 

 

[Synopsis]

Just now, 10 YEARS LATER said:

 "exchange of diplomatic notes" MIGHT be . . . " Greetings from the Trump Administration to the Abadi Administration, Here's your Note !  Now what's all this holdup Bull Shiite with your Currency ?

" Pull your heads outta your butts and get that currency of yours out into the International Stage, Pronto ! IF'N y'all don't, OUR BOSS will be talking AT your boss ! Now let's be honest here, do you really want to hear  . . . . . YOU'RE FIRED ???? " 

 

I'm Good with these brief and concise "exchange of diplomatic notes"!!! That'll Work!!!   

Go Moola Nova!

[10 YEARS LATER]

2 hours ago, Synopsis said:

I'm Good with these brief and concise "exchange of diplomatic notes"!!! That'll Work!!!   

Go Moola Nova!

It's one of the things I like about Trump - cut the crap, no fluff, just get right down to " bidness "

If the Iraqi's aren't nervous now, they soon will be.   

[ChuckFinley]

On January 14, 2017 at 8:58 PM, idplzr said:

There is the mention of "official exchange rate" again😊

I have seen that a couple of times this past week.  Great stuff.  

[yota691]

Finance issued government bonds secured one billion dollars

 

 

Economy News / Baghdad ...       The Ministry of Finance, Sunday, for the issuance of secured government bonds billion dollars, noting that the duration of the bond will be 5 years at an interest rate of 2.1% per annum.   The ministry said in a statement that "the economy News" received a copy of it, "it issued a foreign government bonds guaranteed by the US government of one billion dollars," noting that it "has made great efforts during the month of December last and the beginning of this month to issue these bonds through meet All requirements of the crisis for the completion of this process, which had been successful in the end. "     The ministry added that "the duration of the bond will be five years and an interest rate of 2.1% per annum," indicating that "this money will be used to finance the budget deficit, based on the General Budget Act, which authorized the Minister of Finance to issue those bonds."   The ministry confirmed that "foreign banks praised the interest rate achieved by the Ministry of Finance for these bonds compared to similar cases to other countries, the issue is guaranteed by the United States government bonds."   Iraq has signed, on the fifth of December, the current with America's sovereign loan guarantee one billion dollars for compliance with the fundamental obligations to the Iraqi people.       mm
Views 0   Date Added 22/01/2017 - 14:11   Last updated 01/22/2017 - 14:11   No. Content 6519

[yota691]

Finance issued government bonds secured one billion dollars

 

Sunday January 22, 2017 14:04

 

 

 

 

 

Alsumaria News / Baghdad  announced that the Ministry of Finance, Sunday, for the issuance of secured government bonds billion dollars, noting that the duration of the bond will be 5 years at an interest rate of 2.1% per annum.  The ministry said in a statement Alsumaria News received a copy of it , "issued a foreign government bonds guaranteed by the US government of one billion dollars," noting that it " has made great efforts during the month of December last and the beginning of this month to issue these bonds by meeting all requirements crisis for the completion of this process , which had been successful in the end. "         The ministry added that " the duration of the bond will be five years and an interest rate of 2.1% per annum , " indicating that "this money will be used to finance the budget deficit , based on the General Budget Act , which authorized the Minister of Finance to issue those bonds."  The ministry confirmed that "foreign banks praised the interest rate achieved by the Ministry of Finance for these bonds compared to similar cases to other countries , the issue is guaranteed by the United States government bonds."  Iraq has signed, on the fifth of December , the current with America 's sovereign loan guarantee one billion dollars for compliance with the fundamental obligations to the Iraqi people.

[yota691]

Financial issue foreign bonds worth one billion dollars

History of edits:: 01/22/2017 13:44 • 102 visits readable

[Where - Baghdad] 
The Ministry of Finance and Foreign government bonds guaranteed by the US government in the amount of one billion dollars.

According to a ministry statement received by all of Iraq [where] a copy of the "Ministry of Finance has made great efforts during the month of December and the beginning of this month to issue these bonds by meeting all the requirements crisis for the completion of this process , which had been successful in the end." 
"The duration of the bond is five years and an interest rate of 2.1% per annum, and will be the outcome of this bond used to finance the budget deficit , based on the General Budget Act , which authorized the Minister of Finance to issue those bonds." 
He said the "foreign banks praised the interest rate achieved by the Ministry of Finance for these bonds compared to similar cases to other countries , the issue is guaranteed by the United States government bonds."

[olivesman]

Are we there yet? 

 

[yota691]

Iraq sells bonds worth one billion dollars

Date of publication: 22/01/2017 | Are GMT 12:57 |money and business

 

Reuters Thaier Al-Sudani

Iraq sells bonds worth one billion dollars

 

Iraq announced on Sunday January 22, selling bonds guaranteed by the United States-billion-dollar interest rate of 2.1% per annum.

A statement by the Ministry of Finance, the ministry has made great efforts during the December / December and the beginning of this month for the issuance of these bonds by meeting all necessary steps to complete this process, which was a success in the end demands, adding that the duration of the bond is five years, to be used bond proceeds to finance the budget deficit, based on the General budget Act, which authorized the Minister of Finance issuance of those bonds.

And it suffer approved the Government of Iraq, depending almost entirely on oil revenues to fund their spending since the decline in crude oil prices in 2014, especially after the takeover of Sunni Islamist al Daesh outlawed in Russia on the vast territory of the country, and liver of the government billions of dollars.

Source: agencies

Nadezhda Oniotina

[Synopsis]

7 hours ago, olivesman said:

Are we there yet? 

 

I sure hope so, OlivesMan!

The last article is titled, "Iraq sells bonds worth one billion dollars"

If these bonds are denominated in USD, maybe no big deal. However, if these bonds were denominated in IQD, or possibly SDR, then this would be a huge big deal in my opinion!

Go Moola Nova!

                 

[yota691]

Follow-up meetings to prepare Alantmaia program

 

 

1/23/2017 0:00  BAGHDAD / morning the  Iraqi side held affiliate program ready Alantmaia meetings with the International Monetary Fund in Baku , capital of Azerbaijan for their meetings to prepare for the second review of the program which will be held in March next month.  A statement by the Ministry of Finance «morning» received a copy of it, that « the meeting was attended by Fadhil Nabi Othman, Deputy Minister of Finance and the Governor of the Central Bank of Iraq and the head of the Federal Office of Financial Supervision and Financial Advisor to the Prime Minister and experts in finance, planning and oil ministries and the Central Bank of Iraq and the Kurdistan region» The statement added that «was to discuss the level of implementation of the general budget for 2016, as well as discuss the extent to which the general budget for 2017 with Alantmaia readiness program to the mechanics of financing the budget deficit in 2017, as expressed head of the IMF mission satisfaction with the efforts made by the Ministry of Finance and the Central Bank of Iraq and other ministries in the field meet requirements of the program and it 's going according to timings indicated by the program » . in the meantime, the Ministry of Finance issued a foreign government bonds guaranteed by the US government , one billion Dolar.ozkr another statement , the Ministry said that« the Ministry of Finance has made great efforts during the month of January and the beginning of this month for the issuance of these bonds by meeting all necessary for the completion of this process , which was a success in the end demands ».  He »that the duration of the bond is 5 years and an interest rate of 2.1 percent per year, and the outcome of this bond will be used to finance the budget deficit , based on the General Budget Act , which authorized the Minister of Finance to issue those bonds».  The statement continued that «foreign banks have praised the interest rate achieved by the Ministry of Finance for these bonds compared to similar cases to other countries has issued guaranteed by the US Government bonds.»